The Structure of Models: Understanding Theory Reduction and Testing with a Production Example

Autor:	George C. Davis
Jazyk:	angličtina
Rok vydání:	2004
Předmět:	methodology models theory reduction theory testing venn diagrams Agriculture
Zdroj:	Journal of Agricultural and Resource Economics, Vol 29, Iss 1, Pp 65-78 (2004)
Druh dokumentu:	article
ISSN:	1068-5502 2327-8285
DOI:	10.22004/ag.econ.31142
Popis:	The language of economics is the language of models. Understanding the structure of this language offers many benefits. Unfortunately, the structure is ubiquitous in implementation but absent in documentation. This paper documents the structure of models in the context of the theory reduction and testing process. The structure is used to explain why there are several legitimate ways to deal with nonspherical errors in econometric models and why the recent work on stochastic preferences and technologies is a progressive step forward for the discipline. A production modeling exercise is presented to help illuminate the concepts.
Databáze:	Directory of Open Access Journals
Externí odkaz:	https://doaj.org/article/be0c9e809b0f43cfa1ca33a71b50425f Zobrazit plný text záznamu View record in DOAJ